Scottish Ltd

Formation of Private Limited Liability Company in Scotland.

Formation of Private Limited Liability Company in Scotland.

Scottish Private Limited Liability Company is a simple and fast way to set up your business in the European Union. The essential feature of Scottish Ltd is tax benefits and the liability of members to the amount of share capital subscribed to. Scottish companies are frequently used for international trade and e-commerce business.

Recurring Maintenance Fees as from 2nd Year - $585

PLEASE CONTACT US IF YOU ARE INTERESTED IN NOMINEE DIRECTOR SERVICES.

Please note: If applying for a corporate bank account you will need to order a full set of apostilled company documents when the account is opened outside of Scotland or the UK.

PACKAGE SERVICES

Formation Fee

  • Name check and approval
  • Filling the incorporation documents with Companies House
  • Payment of the Government Fee
  • Provision of registered office and registered address for one year
  • Provision of company Secretary for one year
  • Rubber stamp

A standard set of original corporate documents:
  • Certificate of Incorporation
  • Memorandum & Articles of Association
  • Appointment of First Directors
  • Consent Actions of the Board of Directors
  • Share Certificates
  • Register of Directors and Members
$ 790
ADDITIONAL SERVICES
NOMINEE SERVICES

Nominee Shareholder

Provision of corporate Nominee Shareholder(per annum)
    $ 300
    CORPORATE CERTIFICATES

    Certificate of Good Standing (Apostilled)

    Provision of Certificate of Good Standing under Apostille
    $ 210

    Set of Corporate Documents

    Copies of corporate documents in one Apostilled bundle.
    Please note: If applying for a corporate bank account you will need to order a full set of apostilled company documents when the account is opened outside of the UK.
    $ 200
    OTHER SERVICES

    Extra Rubber Stamp

    Provision of company extra rubber stamp
    $ 40

    Metall Embossing Seal

    Provision of embossed metal seal
    $ 100

    Payment methods

    TOTAL: $ 790

    Facts & Info for Scotland (Ltd):

    Corporate Information


    LEGAL FORM
    Scotland is an integral part of the United Kingdom but has its own legal system, separated from those of England, Wales and Northern Ireland. Civil registration is governed by different Acts of Parliament however, Scottish companies are still subject to UK Company law (The Companies Act 2006) even though governed in slightly different ways.
    Private limited liability companies are the most common form of business entity used in the UK and Scotland. The main feature of a private limited liability company is that the liability of its members is limited to the amount of share capital they are subscribed to.
    COMPANY NAME
    Scottish companies must use the suffix Limited or Ltd to denote limited liability and can use any name unless it includes words such as Empire, Crown, Imperial, Windsor, Royal, Assurance, Bank, Building Society British, National, Great Britain, United Kingdom, England, English, Scotland, Scottish, Wales, Welsh, Ireland or Irish – (if the words are used as a suffix, they are normally allowed).
    A company must not be registered under this Act by a name that is the same as another name appearing in the registrar’s index of company names.
    MEMORANDUM AND ARTICLES OF ASSOCIATION
    A company is formed by submitting its Memorandum and Articles of Association to the Companies House along with the registration fee. Every company has a Memorandum of Association, which contains the company name, registered office address and what the company does (its objects). The rules for the conduct of the company’s internal affairs are contained in its Articles of Association. There is a standard form for the articles (in the case of a company limited by shares known as Table A), but this may be modified.
    SHAREHOLDERS
    The minimum number of shareholders is one, the maximum number of shareholders is fifty in the case of a private company. Corporate shareholders are allowed. Shares may be held jointly by two or more people.
    Certain information about company shareholders will be disclosed on public record.
    SHARE CAPITAL
    There is no statutory minimum or maximum capital for a private company. It is now possible to set up a company with only one member and for that member to have only one share, but this is exceptional. Share capital in usually 1,000 pounds or above.
    DIRECTORS AND SECRETARY
    According to the Companies Act every company must have at least one Director who is a physical person of any nationality. Details about company directors are disclosed on public record.
    REGISTERED OFFICE
    A Scottish company must always have a registered office address in Scotland. It will not be possible to change it to an address in England, Wales or Northern Ireland once registered in Scotland.
    MEETINGS
    Company meetings need not be held in the UK or Scotland.
    TIME NEEDED FOR FORMATION
    Usually it is 1 working day.
    RECURRING AND MAINTENANCE FEE AS FROM 2ND YEAR
    • Provision of registered office
    • Provision of company Secretary
    • Preparing and Submission of Annual Return

    Taxation

    CORPORATION TAX RATES
    Corporation tax is paid by limited companies on their profits. Corporation Tax is a tax on your company’s taxable profits. The taxation and management of the Scottish limited companies is currently the same as for England registered companies but there is a separate Companies House in Edinburgh.

    Corporation Tax Rates:
    Profits GBP300,000 or less ("small profits" rate) - 20% (from April 1, 2015);
    Profits above GBP300,000 ("main" rate) - 21% (from April 1, 2014); 23% from April 1, 2013; and 24% from April 1, 2012.
    AUDIT AND FINANCIAL RETURNS
    Scottish Companies House will send a "shuttle" annual return form to a company’s registered office each year containing details of the information held on the Scottish Companies House database. This should be checked and amended as appropriate. Any additional information required, such as current share capital and details of members, should be provided and the signed form must be returned to Companies House within 28 days of the date shown on the form. If it is late, the company and its directors and secretary are liable to prosecution.

    The first annual return must be made up to a date not more than 12 months after incorporation. Further returns should be at intervals of not more than 12 months. A company must have an auditor, and accounts must be filed each year with the Companies House. Small companies can prepare abbreviated accounts, and exemption from audit can be claimed.

    Our Services & Requirements

    OUR SERVICES FOR THE COMPANY FORMATION IN SCOTLAND INCLUDE:
    • Name check and approval
    • Filling the incorporation documents with Companies House
    • A standard set of original corporate documents
    • Payment of the Government Fee
    • Provision of registered office and registered address for one year
    • Provision of company Secretary for one year
    • Rubber stamp

    DOCUMENTS REQUIRED FOR THE COMPANY FORMATION
    Please provide the following documents for all Directors, Shareholders, Beneficial Owners, Authorized Signatories:
    • Notarized copy of valid passport.
    • Original or Certified copy of utility bill / bank statement (as verification of residential address, dated within 3 months).
    • Original or certified copy of Banker’s reference letter (dated within 3 months).
    • In cases where shareholders and/or directors are corporate bodies, full apostilled set of corporate documents and Certificate of Good Standing (for companies registered more than 1 year).
    IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES

    If you conduct any activity without required license or authorization granted by a relevant authority in any jurisdiction, STARTING BUSINESS will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.

    Licensable activities include, but not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking business; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.

    Please contact us if you need our assistance in licensing of your financial, Forex brokerage or gambling company.
    SHIPPING COST
    Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to the invoice during checkout. Shipping costs for international courier services are set automatically and can vary from USD 75 to USD 95. The fees depend on the jurisdiction of your ordered company, the country where the bank is based as well as your destination country.

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